European mills producing hollow sections are unhappy with current pricing and intend to issue higher offer prices over the next few weeks, market sources told Metal Bulletin on Wednesday April 11."The development of tube prices does not match that of flat steel," one Southern European producer said."None of the pipemakers are happy with the current situation. They're all confronted with higher coi...Read More
Domestic prices for hot-dipped galvanized coil (HDG) in the EU were unchanged this week, sources told Metal Bulletin on Wednesday April 11.The HDG market sector is following a trend similar to that seen in the hot-rolled coil (HRC) and cold-rolled coil (CRC) markets, where prices were stable while buyers slowly returned to the markets for re-stocking, according to market sources."Prices are likely...Read More
Prices for domestic steel beams picked up slightly in Northern Europe this week following three consecutive weeks of falls, although market activity remained low, sources told Metal Bulletin on Wednesday April 11.Metal Bulletin's price assessment for S235-grade, 200x200mm category-2 H-beams made in Northern Europe edged up to ?,?600-620 ($740-765) per tonne delivered on Wednesday April 11, compare...Read More
Domestic prices for cold-rolled coil (CRC) in Europe have been stable over the past week despite slow market activity, sources told Metal Bulletin on Wednesday April 11.Market activity has been slow because distributors are more focused on selling material from stock than on making new deals with mills.The distributors are expected to start re-stocking by the end of this month, according to market...Read More
The latest metal markets news and price moves to start the North American day on Wednesday April 11. The latest metal markets news and price moves to start the North American day on Wednesday April 11. Base metals prices on the London Metal Exchange continued to rise during morning trading, with aluminium's momentum continuing to eclipse the rest of the complex. "Aluminum continues to be the main...Read More
Good morning from Metal Bulletin's offices in Shanghai as we bring you the latest news and pricing stories on Wednesday April 11.Copper prices on the Shanghai Futures Exchange edged up during Asian morning trading on Wednesday, with the red metal continuing to benefit from an easing in global trade tensions. But the release of disappointing Chinese data earlier this morning has dampened sentiment...Read More
Aluminium continued to rally on the London Metal Exchange at the close of trading on Wednesday April 11, climbing 1.7% and recording its highest close since January 2.The spike in the metal's three-month price comes after the USplaced sanctions against key Russian firms, notably Rusal, prompting tightermarkets.Following the announcement, the LME implemented a, "temporary conditional suspension" on...Read More
Comex copper prices failed to maintain momentum on Wednesday April 11 morning in the US, with the recent gains prompting a round of technical selling amid continued global unrest.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents or 0.3% to $3.1275 per lb, after the contract hit a three-week high yesterday."The LME copper price is consolidating we...Read More
Physical iron ore prices softened on Wednesday April 11 amid a retreating futures market in China.Metal Bulletin 62% Fe Iron Ore Index: $64.79 per tonne cfr Qingdao, down by $0.51 per tonneMetal Bulletin 58% Fe Premium Index: $52.51 per tonne cfr Qingdao, down by $0.24 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, down by $1 per tonneMetal Bulletin 62% Fe China Port...Read More
Aluminium continued to rally on the London Metal Exchange at the close of trading on Wednesday April 11, climbing 1.7% and recording its highest close since January 2.The spike in the metal's three-month price comes after the USplaced sanctions against key Russian firms, notably Rusal, prompting tightermarkets.Following the announcement, the LME implemented a, "temporary conditional suspension" on...Read More
Brazil's aluminium industry will request the government to increase by 50% the volume of the import tax-free quota for ingot from July onward due to supply constraints and a modest demand recovery, Metal Bulletin understands. The industry expects to have 270,000 tonnes of unwrought aluminium exempted from the 6% import tariff for a 12-month period, from the current quota of about 180,000 tonnes, a...Read More
The first shipments from Codelco's pilot scheme to produce decommoditized copper with traceability throughout the supply chain are expected at the end of the year or by the start of 2019, the chairman of the Chilean state-run copper company said. According to ?"scar Landerretche, the scheme has been agreed upon with three customers: trading company Mitsui, French cable maker Nexans and automotive...Read More
Chinese laws restricting the nation's copper scrap imports have already materially affected the European market, Aurubis executive board chairman J? 1/4 rgen Schachler told Metal Bulletin in an interview."In the short term we see that this legal legislation has changed the game a bit." he said during Chile's CESCO Copper Week.China cut metal scrap import licenses issued to traders and pr...Read More
Codelco will play a small role in the lithium market and has no plans to compete with some of the world's giants in the field, according to the chairman of the Chilean state-run copper producer.Enthusiasts should "curb your enthusiasm" for Codelco's involvement, Oscar Landerretche said, adding that the company was in no immediate rush to develop its two lithium projects in Chile's northern region...Read More
Zinc premiums were largely stable on Tuesday April 10 with a downward adjustment in zinc premiums in Italy following arrivals from Namibia, while lead premiums were unchanged across several markets amid spot weak demand, in particular in India where stagnant industrial demand failed to boost battery consumption. Zinc premiums largely unchanged, except a slight cut in Italian premiums LME zi...Read More
Comex copper prices failed to maintain momentum on Wednesday April 11 morning in the US, with the recent gains prompting a round of technical selling amid continued global unrest.Copper for May settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents or 0.3% to $3.1275 per lb, after the contract hit a three-week high yesterday."The LME copper price is consolidating we...Read More
Stainless steel producer Aperam has purchased 100% of the shares in Germany-based special alloys producer VDM Metals for ?,?438 million ($540 million), the companies announced on Wednesday April 11.The acquisition, which is subject to merger control approvals, is expected to be completed during the second half of 2018, Aperam said. Until the deal has been confirmed, VDM Metals and Aperam will rema...Read More
Russian steelmaker Severstal increased its export sales volumes to 48% of all sales during the first quarter of 2018, up by 6% from 42% in the fourth quarter of 2017, on higher profitability of exports, according to its latest operational results statement.This continues the rising export trend it set in the October-December quarter of last year, it said in the report published on its corporate we...Read More
Domestic prices for mesh-quality wire rod produced and delivered in Europe went unchanged this week, with demand at mills remaining healthy, sources said on Wednesday April 11.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Northern Europe was unchanged on Wednesday at ?,?550-560 ($679-691) per tonne delivered.One European mill intends to raise prices for all...Read More
European spot prices for molybdic oxide and ferro-molybdenum have dropped in line with demand on the spot market, with dealers expecting further price losses until renewed demand is triggered.The markets have been virtually inactive in terms of reported trades, with suppliers cutting their offer prices to encourage buying interest, but consumers seem content with their current stockpiles at presen...Read More